Stocks to Watch: Yahoo!, Intel, Bank of America

Yahoo!'s earnings top estimates, but guidance falls shy of expectations.

NEW YORK -- Yahoo! ( YHOO), the Internet giant, posted quarterly earnings that beat Wall Street expectations, but revenue continued to move in the wrong direction and guidance came in short of estimates.

The company noted display revenue ex-TAC was $402 million for the first quarter of 2013, down 11% from last year. Search revenue also declined, coming in at $425 million, down from $470 million in the first quarter of 2012.

Analysts expected Yahoo! to earn 24 cents a share on $1.1 billion in revenue for the first quarter.

Yahoo!'s second-quarter guidance came in below estimates. Excluding TAC, revenue is expected to be between $1.06 billion and $1.09 billion, with non-GAAP operating income between $190 million and $210 million. Analysts polled by Thomson Reuters are looking for sales of $1.12 billion.

The chipmaker earned 40 cents a share, down from 53 cents a share in the prior year's quarter. Intel reported revenue of $12.6 billion, compared to $12.9 billion for the same period last year. Analysts were looking for earnings of 41 cents a share and revenue of $12.59 billion.

For its fiscal second quarter, Intel expects revenue of $12.9 billion, plus or minus $500 million, broadly in line with Wall Street's forecast of $12.85 billion. Intel also predicts a gross margin of 58%, plus or minus a couple of percentage points.